Do IHI and MDEV hold the same stocks?

By their latest filings, 30% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, IHI or MDEV?

IHI has 88% of its weight in S&P 500 names and MDEV has 47%, so IHI differs more from the index.

Which is cheaper, IHI or MDEV?

IHI charges 0.37% a year and MDEV charges 0.70%, so IHI is cheaper. Fees come from each fund's prospectus.

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IHI vs MDEV: which is really different?

IHI and MDEV hold 30% of their weight in the same names, and MDEV returned +4.1% over the year. iShares U.S. Medical Devices ETF and First Trust Indxx Medical Devices ETF.

88.0%

IHI in the S&P 500

47.3%

MDEV in the S&P 500

−14.4%

IHI total return, 1 year

+4.1%

MDEV total return, 1 year

IHI · 1 year to Sep 30, 202612% of its weight is outside the S&P 500

88% of IHI's weight is in S&P 500 companies and 12% is outside the index

MDEV · 1 year to Sep 30, 202653% of its weight is outside the S&P 500

47% of MDEV's weight is in S&P 500 companies and 53% is outside the index

ETFIQ Off-Index Score · IHI scores higherHow much of it is not the index it is sold as an alternative to?

IHI 57.6

MDEV 49.3

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, IHI and MDEV hold 30% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 30, 2026.

50%

half

30% in common

Positions both hold, largest shared weight first

Holding IHI MDEV

DEXCOM INC 4.55% 2.54%

BECTON DICKINSON 4.49% 2.18%

EDWARDS LIFESCIENCES 4.52% 2.09%

ABBOTT LABORATORIES 17.77% 1.86%

MEDTRONIC PLC 11.47% 1.86%

RESMED 4.46% 1.82%

ZIMMER BIOMET HOLDINGS 2.37% 1.80%

STERIS 2.86% 1.78%

PENUMBRA 1.75% 1.81%

BAXTER INTERNATIONAL 1.74% 2.64%

INTUITIVE SURGICAL 14.92% 1.69%

GE HEALTHCARE TECHNOLOGIES 4.13% 1.68%

Only in IHI

IDEXX LABORATORIES 4.58%

GLAUKOS 1.35%

INTEGER HOLDINGS CORP 0.60%

ENVISTA HOLDINGS 0.53%

IRHYTHM HOLDINGS INC 0.52%

ATRICURE 0.40%

TRANSMEDICS GROUP 0.40%

AXOGEN 0.34%

Only in MDEV

Revvity, Inc. 3.21%

WuXi AppTec Co., Ltd. (Class H) 3.13%

Demant A/S 2.84%

Agilent Technologies, Inc. 2.82%

West Pharmaceutical Services, Inc. 2.71%

Waters Corporation 2.58%

Sysmex Corporation 2.56%

Bio-Rad Laboratories, Inc. (Class A) 2.54%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

30% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	IHI	MDEV	IHI	MDEV	IHI	MDEV
3 months	+2.5%	+7.3%	0.0 pts	+4.8 pts	+0.4 pts	+5.2 pts
6 months	−4.0%	+8.8%	−20.9 pts	−8.2 pts	−30.8 pts	−18.1 pts
1 year	−14.4%	+4.1%	−30.2 pts	−11.6 pts	−38.2 pts	−19.7 pts
3 years	+6.9%	+15.2%	−78.0 pts	−69.8 pts	−103.0 pts	−94.8 pts
Since launch IHI Jan 2010 · MDEV Jun 2021	+519.6%	−17.7%	−285.0 pts	−111.3 pts	−1217.9 pts	−137.1 pts

IHI and MDEV over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

IHI

iShares U.S. Medical Devices ETF · Holds 54 stocks in therapeutics and medical devices, 88% of its weight in S&P 500 companies

MDEV

First Trust Indxx Medical Devices ETF · Holds 54 stocks in therapeutics and medical devices, 47% of its weight in S&P 500 companies

Issuer iShares First Trust

Theme Therapeutics and medical devices Therapeutics and medical devices

In the S&P 500 88.0% 47.3%

Active share vs the S&P 500 98.7% 98.0%

In the Nasdaq-100 28.2% 5.9%

Holdings 54 54

Top ten, share of the fund 75.7% 27.6%

Expense ratio 0.37% 0.70%

Fee for the differing part 0.37% 0.71%

Total return, 1 year −14.4% +4.1%

vs the S&P 500 −30.2 pts −11.6 pts

vs the Nasdaq-100 −38.2 pts −19.7 pts

Below its high −22.0% −25.9%

Net assets $3.4bn $3m

IHI and MDEV on the same fields, as of Sep 30, 2026. Source: ETFIQ.

IHI in plain words

By weight, 88% of IHI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 76% of the fund across 54 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned −14.4% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 30.2 pts. It sits 22.0% below its all-time high of Sep 8, 2021.

MDEV in plain words

By weight, 47% of MDEV's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 28% of the fund across 54 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +4.1% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 11.6 pts. It sits 25.9% below its all-time high of Sep 7, 2021.

Questions people ask

Do IHI and MDEV hold the same stocks?: By their latest filings, 30% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, IHI or MDEV?: IHI has 88% of its weight in S&P 500 names and MDEV has 47%, so IHI differs more from the index.
Which is cheaper, IHI or MDEV?: IHI charges 0.37% a year and MDEV charges 0.70%, so IHI is cheaper. Fees come from each fund's prospectus.

Other comparisons

IHI vs CANC IHI vs IBRN IHI vs PSIL MDEV vs CANC MDEV vs IBRN MDEV vs PSIL

IHI on its own →MDEV on its own →How every figure is computed →Standards and sources →

Where these figures came from

IHI filings on SEC EDGAR ↗IHI prospectus with the expense ratio (SEC) ↗iShares page for IHI ↗MDEV filings on SEC EDGAR ↗MDEV prospectus with the expense ratio (SEC) ↗First Trust page for MDEV ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, IHI against MDEV, data as of Sep 30, 2026. https://etfiq.com/compare/themes/ihi-vs-mdev

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.